Stainless Steel Bottle Market Size, Share, Growth, and Industry Analysis, (Vacuum bottle, Non-vacuum bottle and Others), By Application (House Life, Office Life, Outdoor Recreation and Others), Regional Insights and Forecast to 2032

Updated On: 22 April 2024

STAINLESS STEEL BOTTLE MARKET REPORT OVERVIEW

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global stainless steel bottle market size was USD 334 million in 2020 and market to touch USD 591.16 million by 2032 at CAGR 5.2% during the forecast period.

Staying hydrated is important for everyone, and it is a simple approach to keep everyone healthy. As a result, stainless steel is beneficial in keeping us hydrated. Stainless steel bottles have a longer lifespan than plastic or glass bottles, which are more prone to breakage. Furthermore, stainless steel water bottles are really handy since they keep your liquids at an average temperature for an extended amount of time. Furthermore, stainless steel is completely recyclable and may be utilized for an extended amount of time.

A stainless steel water bottle is a vessel with two walls and a vacuum insulated layer. It is an insulated stainless steel water bottle that can keep drinks or other beverages cold for 24 hours and hot for 12 hours.  Because stainless steel bottles are corrosion resistant and do not easily react with chemicals when exposed to heat, they endure longer than plastic or glass bottles. These bottles are available in a wide range of forms, sizes, and colors. These bottles consume a lot of energy.

COVID-19 Impact: Pandemic Ceased the Transportation Activities and Downgraded the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The supply chain and production unit were both badly damaged by covid-19, resulting in a considerable decline in output. End-user industry demand has shifted drastically. Because of the COVID-19 epidemic, many have avoided going shopping in person and have instead chosen for online transactions. This condition has compelled producers to distribute their products through internet channels, hence increasing the usage of reusable water bottles.

LATEST TRENDS

"Rising Number of Government Initiatives and Spreading Consumer Awareness to Enlarge the Market Share"

Several nations' governments are taking steps to ban single-use plastic bottles and instead promote the usage of reusable bottles that are both eco-friendly and safe to use. The stainless steel water bottle market is expected to grow as a result of a rising number of government efforts aimed at raising consumer knowledge about the benefits of using eco-friendly bottles.

STAINLESS STEEL BOTTLE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into vacuum bottle, non-vacuum bottle and others.

A vacuum flask is a container that contains two or more chambers separated by one or more walls capable of capturing and retaining gasses. Because of the vacuum between the inner and outer walls, heated liquids stay hotter for longer periods of time than in other types of insulated containers. Vacuum flasks were invented around 1900 to keep beverages like tea warm while on the go; they were commonly referred to as Dewar flasks after its creator, James Dewar.

Non-vacuum bottle: A non-vacuum bottle has an inner and outer layer. The area between the two panes of glass is filled with air, which effectively blocks heat transfer from outside to inside. Non-vacuum bottles are commonly used to store room temperature water, coffee, or even wine. It has a double wall with the area between filled, so there is no possibility of condensation forming on the exterior and potentially leaking out through open side vents or thermal insulation cracks.

• By Application

Based on application the global market can be categorized into house life, office life, outdoor recreation and others.

Household: The largest application category in the global stainless steel bottle market is household. It has had the greatest CAGR over the previous several years and is likely to retain its supremacy throughout the predicted period. The use of bottles for storing water, coffee, or wine at room temperature is one of the key causes driving their tremendous demand in this category. Furthermore, the increased usage of these bottles as dinnerware due to their aesthetic appeal supports demand during the projection period.

Office life: Stainless steel bottles are gaining popularity among customers due to their use in offices. More and more individuals, particularly corporate workers, choose to drink water from stainless steel bottles rather than plastic bottles since they are indestructible and do not contain dangerous chemicals that plastic bottles may contain. It is therefore becoming an important item that helps people stay healthy while working under pressure.

"High Demand Over the Plastic Bottles to Refurbish the Market Scenario"

When beverages are kept in stainless steel bottles, they stay cold or hot for an average amount of time. As a result of these reasons, these bottles are serving as extra benefits to expand the stainless steel water bottle market over the usage of plastic bottles. Chemicals are more likely to leach into juice from plastic bottles.However, the stainless steel keeps it chemical-free. Growing public awareness of the environmental harm caused by the usage of single-use plastic bottles is predicted to boost worldwide demand. These bottles may be readily cleaned and reused. Several plastic bottles contain a variety of chemicals, including BPA, which has been linked to cancer, memory loss, and brain malfunction. All of these reasons reduce the usage of plastic bottles and enhance market demand for stainless steel bottles.

"Rising Demand Due to High Durability to Multiply the Market Share"

Stainless steel bottles are far more durable than other types of bottles. The nicest aspect about these bottles is that they can be washed in a dishwasher. Because stainless steel bottles can be used in practically any condition, they are chosen by frequent travelers as well as athletes, who are predicted to fuel the expansion of the stainless steel bottles market.

RESTRAINING FACTOR

"Rise in Raw Material Cost to Tamper the End Product Pricing and Fluctuate the Market Growth"

The primary obstacle for the market's growth is the rise in raw material costs for the manufacture of stainless steel water bottles. Higher pricing for stainless steel water bottles are a limitation on the market's expansion over the forecast period.The negative influence of Covid-19 on the supply chain will also impede and threaten the market growth rate. Hence, such factors are expected to hinder the stainless steel bottle market growth during the forecast period.

stainless steel bottle MARKET REGIONAL INSIGHTS

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"North America with Massive Production and Rising Awareness to Dominate the Market Growth"

The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

North America to dominate the global stainless steel bottle market share in terms of revenue due to the presence of numerous major companies operating within this region with massive production units and capacity. Furthermore, in recent years, these players have had additional chances due to the general public's increased knowledge of the health advantages connected with stainless steel bottles. The market for stainless steel water bottles is led by North America because of the region's expanding population, changing lifestyles, and increased awareness of the benefits of using sturdy, reusable bottles. An increase in manufacturing techniques is also contributing to the market's expansion in this area.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to stainless steel bottle to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Market Players Profiled

• Thermos (U.S.)
• Stanley Black & Decker (U.S.)
• Tiger (Japan)
• Zojirushi (Japan)
• Nanlong (China)
• Haers (China)
• Xiongtai Group (China)
• Sibao (Germany)
• Powcan (China)
• Klean Kanteen (U.S.)
• Fayren (China)
• EMSA GmbH (Germany)
• Bubba (U.S.).

INDUSTRIAL DEVELOPMENT

• September 2021: Stanley Black & Decker declared its intention to purchase Excel Industries, a company that creates and produces turf-care equipment for both home and commercial use, marketed under the Hustler Turf Equipment and BigDog Mower Co. labels. November 12th of the same year marked the completion of the deal.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.